{"id":105523,"date":"2016-09-17T00:34:26","date_gmt":"2016-09-17T00:34:26","guid":{"rendered":"http:\/\/151.106.38.4\/2016\/09\/17\/sbi-targets-12-sme-credit-growth\/"},"modified":"2016-09-17T00:34:26","modified_gmt":"2016-09-17T00:34:26","slug":"sbi-targets-12-sme-credit-growth","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2016\/09\/17\/sbi-targets-12-sme-credit-growth\/","title":{"rendered":"SBI targets 12% SME credit growth"},"content":{"rendered":"<p><img src=\/old_site\/><\/p>\n<div>Country\u2019s largest lender State Bank of India (SBI) hopes to achieve a 12 per cent credit growth for financing Small and Medium Enterprises (SMEs) in the current fiscal, a bank official said on Friday.<\/div>\n<div>\u201cLast year, growth of credit of SMEs was flat and literally there was no growth. This year, we have been optimistic with SME credits as order book and cash flow (of SMEs) are increasing. Credit growth to them is expected to be 10-12 per cent in the current fiscal,\u201d said SBI\u2019s Managing Director (National Banking Group) Rajnish Kumar.<\/div>\n<div>He said the bank internally would like to achieve 14-15 per cent SME credit growth but 12 per cent growth seemed to be most feasible.<\/div>\n<div>In case of SME credits, he said the bank has been active with products such as loans against property, supply chain financing, etc.<\/div>\n<div>\u201cOverall credit growth should be 13-14 percent,\u201d Kumar said on the sidelines of an event organised by Confederation of Indian Industry (CII).<\/div>\n<div>The lender is moving towards cash flow based financing instead of balance sheet based financing for SMEs. \u201cTo begin with, we are moving towards cash flow based financing instead of balance sheet financing, particularly, for loans up to Rs 50 crore to these enterprises,\u201d he said.<\/div>\n<div>In terms of corporate lending, the \u201cdemand for loans\u201d has been much less.&nbsp;<\/div>\n<div>\u201cThere are no major projects which consume huge capital. There are shifts in the sectors\u2019 contribution to GDP. Services sector contributes more to GDP as compared to manufacturing. Thus, the composition of credits is also shifting,\u201d he said.<\/div>\n<div>On the merger of SBI associate banks with SBI, he said there would be no closure of branches but they would be re-allocated after merger.&nbsp;<\/div>\n<div>\u201cPost-merger, there will be no closure of branches but there will be a need for optimisation and reallocation of branches. We are studying what will be the total number of branches after merger,\u201d he said.<\/div>\n<div>There are about 23,000 branches of SBI and its associate banks.<\/div>\n<div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Country\u2019s largest lender State Bank of India (SBI) hopes to achieve a 12 per cent credit growth for financing Small and Medium Enterprises (SMEs) in the current fiscal, a bank official said on Friday. \u201cLast year, growth of credit of SMEs was flat and literally there was no growth. This year, we have been optimistic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-105523","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/105523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=105523"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/105523\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=105523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=105523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=105523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}